Introduction

1 ▪ P2A

1.1 ▪ Why P2A Exists — The Macro Context

Crypto markets have moved from obscurity to a multi‑trillion‑dollar asset class in under fifteen years. Yet the infrastructure for talent discovery, capital allocation and risk governance remains fragmented and overwhelmingly biased toward actors with institutional tooling. In this gap, a long‑tail of individual traders deploys ingenuity but lacks distribution, while millions of newcomers deploy capital but lack discipline. Peer 2 Agent (P2A) bridges that asymmetry by turning proven skill—human or algorithmic—into an on‑demand, non‑custodial service.

Mission statement “Democratise sustainable alpha by matching capital with verifiable skill, governed entirely by its own stakeholders.”

1.2 ▪ Core Vision — Capital as a Commons

Instead of a closed hedge‑fund model where profits accrue to a small GP/LP circle, P2A treats alpha‑generation as a public good financed by protocol fees and curated by token‑weighted governance. This reframes three foundational questions:

Traditional Finance	P2A Approach
Who allocates? Boards, fund crypto managers	The DAO allocates. $P2A holders vote on listings, audits and treasury outlays.
Who verifies? Annual statements, self‑reported NAV	Code verifies. Trade IDs, fill prices and fees are immutably logged and recomputable by anyone.
Who benefits? Management first, clients second	Both win or neither. Agents earn only on realised Peer profit; treasury grows only on net‑positive cycles.

1.3 ▪ Design Tenets

1. Non‑Custodial by Default — Capital stays in Delegation Vaults controlled by the Peer. Agents receive “just‑in‑time” signing authority per trade, bounded by risk envelopes that the Peer cannot exceed without explicit consent.

2. Proof‑of‑Performance Layer — An on‑chain oracle digests each Agent’s raw fills, normalises P&L and emits cryptographic attestations. These proofs feed directly into ranking algorithms, staking multipliers and treasury streaming rates.

3. Stake=Responsibility — Every Agent NFT carries an escrowed $P2A bond. Underperformance burns bond into the insurance fund; outperformance unlocks higher exposure caps and revenue share.

4. Composable Governance — From fee curves to new asset listings, every protocol parameter is upgradeable via DAO proposal. Voting power blends raw $P2A stake with a decay‑adjusted merit score (vP2A) to prevent plutocracy.

5. Open Algorithmic Marketplace — Human traders, deep‑RL bots, statistical regressors—any strategy can become an Agent as long as it passes sandbox stress‑tests and posts collateral.

1.4 ▪ What Success Looks Like

• Year 1 – 50+ vetted human Agents, 5–10 AI models, US $50 M in delegated capital, sub‑second replication latency on top‑5 CEX/DEX venues.

• Year 3 – Full DAO treasury control, cross‑chain Delegation Vaults, US $1 B delegated, community‑led insurance pool, zero‑knowledge privacy layer for trade intent.

• Year 5 – Industry benchmark for merit‑driven capital allocation; traditional funds tokenise strategies as Agent NFTs, leveraging the P2A rail instead of building their own.

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In essence, P2A converts trading talent into a community‑owned digital asset class, aligning the upside of expertise with the security and autonomy of every participant.